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of what could b a change instance on part ofery, very worried republicans, saker boehner, meeting with the core group sang, you know elec eelections e consequences, might as well stay in line. is it over? is the revolution on went the republican ranks? to rich edison in washington dc on the other story of this fiscal cliff still pending, rich? >> house republican leaders are discussing an overhaul of tax code, lower rates, fewer deductions, a new system that generates more revenue. for some republicans, that ququququaly z asss aaxnce i i in th re cut is too stingy, any housing or senate republican decenters to bain are' boehner's are relatively quiet. he fuses to box himself in. and so far his conference in public is letting their boss negotiate, some republicans are publicll acknowledgi wealthier americans will have to pay more in a new tax system, they may get lower rates but withewer deductions they will be sending more money to dc, it is how how sell this those paying more in general because of a new tax system is a different definition. neil: better be careful what you wish f
don't have a press conference. john boehner shouldn't have a press conference. get john boehner at a small group of congressman together and say what can we work out? all we're doing is playing politics, everybody will get locked into one position or another, let's see what we can work out and then announce it is something we have agreed upon. that is the way you do it, instead you'rsteadier quebec thy politics that didn't produce what we needed to have. neil: what worries me is this hope is dashed. >> they should have put together a bipartisan group, all they're doing is put on defensive by the self-interest groups they are meeting with. does not make much sense. neil: they made it very clear, nothing from us. and he owes them, right? >> they got him reelected. neil: time is urgent, time to say time is wasting. >> who didn't have to completely ignore the political thank you, but if you sttrted off and have a couple of meetings with the leaders of the democrats in the house and the republicans in the house and in the senate, and do it on a bipartisan basis. the only way it will
boehner challenging president obama to lead us. his first comments on the economy sense reelection, he ems emboldened by his reelection. with more on this, chris stirewalt. it is great to have you here. i want to start by talking about what the president had to say today. he seemed pretty firm on what he said so far about what we need to do with taxes in this country. here is the president. >> i am open to compromise. i am open to new ideas. i am committed to solving our fiscal challenges. but i refuse to accept any approach that is not balanced. i am not going to ask students and seniors and middle-class families to pay down the entire deficit while people like me, making over $250,000 are not asked to pay a dime more in taxes. [applause] gerri: chris, jay carney comes out a few minutes later and he says, well, the president says he will raise taxes on wealthy. so where is the compromise? >> the hope is that the compromise lies in a broader reform. but as you know, this comes down to chime in. you have the fiscal cliff. what democrats want to do really -- what they want to do is use this
. rich: they are not offering very many specifics this early on. we do have a ways to go. john boehner did offer framework. the framework would have tax and entitlement targets, revenue targets, spending targets, that this year in the next couple months. congress would work out the details in 2013. both leaders from both parties and both houses say it is time to get to work. >> we will continue to have revenue on the table. we are serious. we are serious about cutting spending and solving our fiscal problems. >> we will do it now. we feel very comfortable with each other. this is not something we will wait until the last day of december to get it done. rich: they met for a little longer than an hour here at the white house. much of the talk was positive. there really is not anything close to specifics right now coming from anyone in all of this. here he read and nancy pelosi really did not mention entitlement at all. rich o'connell highlighted the fact that his conference in the senate believes that this country does not have a taxing problem, it has a spending problem. there are still
. is there any way we're coming to a solution here? >> well, speaker boehner will be meeting with the president on friday. and we'll hear some of the basic outlines what is being put on the table at that point in time. we on the ways and means committee will be very actively engaged in working with our chairman, dave camp, to provide good information to the chairman and to speaker boehner about what we want to do with tax reform. bottom line is this. we have to stop this massive tax hike that will hit american families and businesses at the end of the year. melissa: yeah. >> then pivot to fundamental tax reform. and they're going to be things on the table but increasing tax rates is not one of them. i will not vote to encrease tax rates. melissa: you know, congressman, this segment was supposed to be about the carbon tax, like everything else we can't talk about anything beyond this fiscal cliff. i mean it is getting in the way of everything including this segment. we had somebody on from the teachers union or teachers education, national education association i should say at beginning of the s
uncertainty despite the president's comments and john boehner's comments. cheryl: we're looking at what we've been seeing over the last couple of months and you are saying kind of be prepared for that. a lot of the guests have come on and said you know, there's problems with earnings, but also you can't ignore that spike to the down side after the election. what did you make of all of that last week? what did you read into that? >> well, i mean, heading into the election, there was a lot of sentiment that the the market, the financial markets would have preferred a republican winner. cheryl: sure. fiscally more responsible if their view. -- in their view. >> correct. there's a few there's a lot of financial regulation presently and more to come. a lot of that at least from professional investors is probably where they were on wednesday. cheryl: they were waiting to see. >> i think that's going to settle off. i don't think you will see 300 point swings. you might see back again -- i'm quoting that period of july and august 2011, you could see 100, 150 on any given day, maybe a little bit ou
of the white house and the senate. i think john boehner has been the biggest in this, putting revenue on the table. i do agree with doug and i think that we will get some last-minute deal where we will kick the can down the road. if we go to the fiscal cliff, my party will shoulder the blame. trust me, my party is losing the message game and that is why we are having a bargain right now. >> there is a larger point. bottom line, if we go into some kind of economic downturn or a recession, all sides and all parties. >> i do agree with you. when the finger-pointing goes down, my party is the one to blame. right now we are trying to put humpty dumpty back together. gerri: to that point, and to both of you, what does the republican party need to do? to change the way it is viewed, we need to do? >> we can't continue to be the party of old white men. we have to work and take control of immigration reform and we have to change our message. we have to stop the fire and brimstone. if you don't vote for us, you are a lazy mood or read it. we feel your pain, we are here with you, stick with us a
tomorrow is speaker john boehner's birthday. for those of you who want to wish him a happy birthday, we will not embarrass him with a cake because they did not know how many candles were needed. >> right, right. >> but we did want to wish him a happy birthday. stuart: that is the photo op basically be fo before the hard bargaining begins. i did pick up it was john boehner next to the president and the president went out of his way to say we want a balanced approach. that means tax the rich. >> taxes go up, increasing revenue, which we already have no word on entitlement spending. no time like the present. the dollar now down 26. know in part on the from that. >> not raising taxes, and the second element of this which has not been part of the public conversation is cutting spending. we don't have a revenue problem, have a spending problem, no issue with cutting spending. stuart: i said taxes on the rich will go up. are you going to disagree with me? >> depends on what you mean of taxes going up. i don't think republicans are going for that, don't. stuart: whether they are forced into it?
are stopping by. all leading up to the meeting on friday. john boehner, harry reid, mitch mcconnell, the same group last year. since that meeting, republicans have been discussing revenue increases. democrats want tax rate increases. republicans say there are other ways to get there like curbing tax deductions. >> this whole notion of capital gains and dividend taxes is really an explicit to pension funds and the ability of moms and pops that are out there to have income producing small capital investments. rich: the president's budget increases the top tax rate from 15 to 20%. meeting friday at the white house. back to you. lori: we know you will be there, rich. thank you. melissa: the president calling on congressional leaders to work together. congress has a voter mandate not to raise taxes. joining us now is steve moore from the "wall street journal." thank you for hopping on the phone to talk to us. i am really interested in the interview that you did. he said over the weekend "let me put it very clearly, i am not willing to turn off taxes for the sequester." >> one of the things that ca
provisions giving you 1.6. the starting point for the administration. john boehner about a year and a half ago stopped about 800 alien dollars worth of revenue through tax reform. republicans won't give a number now but they want tax reform and an overhau overhauled the entirm to generate new revenue. there was talk about this yesterday with treasury secretary commissioner who said to that idea pretty much forgot about it. >> there is a lot of magical thinking about how much money can raise from tax adventures. people will look at that question and concluded i think incorrectly that there is a huge amount of resources. i think that is untrue. >> a dozen of ceos meet with the president and a couple of hours from now after the president's news conference at 1:30. a number of these executives have been to the white house before. members of the export council, jobs council, ceo of of ge, tao, ford, also say what the white house on the different councils in some form or another. cheryl: we will be taken the tae news conference from the president lives and the ceo will have something to chew on
heard from speaker john boehner and mitch mcconnell on their position because they will all be here at the white house on friday to get these talks kick started. melissa: thank you so much. lori: estevez houston with a news conference, president obama will be sitting down with a ceos to talk about solutions to avoid the fiscal cliff. rich edson in washington as well the latest developments. >> good afternoon. wrapping in the 2:00 hour, leaves the east room, here to the west wing where he will meet with about a dozen ceos, half of whom are part of the export counselor, jobs council, or they are very familiar with the white house, in particular this white house. the discussion is of the opening offer on taxes, $1.6 trillion in tax increases, most of that tax increases on rate and deductions for those earning more than $250,000 per year. republicans wanted an overhaul of the entire tax system and create revenue through an overhaul of the tax code mostly by getting rid of deductions. saying no to higher rates. that is the risk the treasury secretary shot down. >> there's a lot of magica
there to some degree was house speaker john boehner. ms. mcconnell digging his heels at democrats in the senate digging their heels and the president appears to be doing the same as well, as we will have to see what happens. dagen: what has been the reaction the corporate bond market? this thread has gotten wider, but is that because the yield on the 10-year is falling? >> we have seen some selling take place, corporate are linked to equities to some degree, we've all seen the trade-off they place in equities. there have been several new issues come into the marketplace over the last several days. if you look at a couple of weeks ago they were substantially oversubscribed. if you look at one place where the market has benefited from all of this comic has been muniz. units have reached all-time record lows. a lot of demand take place, certainly all this discussion about tax increases have gotten people worried. also another impact as well, a series of ballot measures that took place last election day, and the ones that were passed were generally bond market friendly. for example in california th
and engage. i would be much happier if he was spending his time on the weekend talking to john boehner, majority leader reid, minority leader nancy policy. lou: isis and the president would interrupt the congressional thanksgiving holiday just because of a national crisis? >> we need a deal quickly. listing the business community confidence decline. this makes it worse, in those circumstances it is hard to imagine the household sector will remain strong. it has hung in there so far but we will not get real growth with negative investments. this deal has to get settled quickly in my view. lou: it was striking treasury secretary timothy geithner chose now is the time to talk about the importance of lifting through infinity but that feeling that is imposed by congress. i cannot believe the treasury secretary facing all of the issues that we do as a nation and its economy, the fiscal cliff would choose now to talk about the debt ceiling, for crying out loud. >> we have the fiscal cliff and there is a debt ceiling, that does not have to come up in february or march. we have a big debt probl
question. john boehner, he said it's going to take a long time to work this out. let's keep in mind here that will cost every american family $3500. what can you do by december 31? >> well, we can pass the republican bill that came through the house that is sitting in the senate. the economy is still going the wrong way. we have more americans on fd stamps than ever before in history, and all he wants to do is talk out raising taxes. gerri: congressman cummings a pleasure to talk you tonight. thank you for coming on. >> absolutely. gerri: president obama pushing his tax agenda. but who didn't earn a seat at the table? small busiss. big mistake, mr. president, that's what my next guest says. he is the president of the american business week. welcome to the show. it is great to have you here. i was shocked. we have all big fortune 5 companies going into that room. the missing players were walll street, and also small business. >> i would tell them that einstein says we can't solve problems by using the same kind of thinkin. obama went to big businesses a couple of years ago looking for sol
on was the basic framework for moving forward. whereas speaker boehner said we need to do this in the short term and we need to get beyond the fiscal cliff. in 2013 come we can talk about serious tax reform and serious entitlement reform. it is sad that tte president wants to do that. he has been insisting on these rate hikes. gerri: listen to the president talkinabout compromise. >> our challenge is to make sure that we are able to cooperate together. work together. find common ground together. make tough compromises together. build some consensus. in order to do the peoples business. what folks are looking for, and i think all of us agree, we are looking for action. they want to see we are focuse on them and not focus on politics here in washington. gerri: compromise. he says the word compromise. why don't you buy? >> he said the word compromise, but he also said our challenge is to find compromise. 's right about that. there's a history there. we are not making these judgments based on nothing. we go back, we will do the debt ceiling, the way out ofhe debt ceiling negotiation to create a supe
business three. a roller coaster day on wall street. stocks bounced off session lows after john boehner said he had constructive talks with president obama on averting the fiscal cliff of spending cuts and tax hikes. right now, the dow jones is up 43 points. modest gains across the board. meanwhile, shares of penn national are jumping. they also plan to transform into the first gambling real estate investment trust. they plan to go with a tax-free dividend. and all consumers want for christmas is a tablet. the tablet tops this year holidays wish list for adults. consumers are expected to spend an average of 252 bucks on electronics this year. just $6 more than a year ago. now we continue our countdown to the closing bell that liz claman. liz: here is something interesting. today we saw the first ipos in the election. how did it do? let's find out from the coal. reporter: is actually the mascot of the company that we are talking about. i don't think it has anything to do these cute, black labradors. the pricing of the stock was 13 to 15. actually priced at $15. take a look at where it is
what you want to do. connell: even when you listen to john boehner and others coming out, we are making progress. making progress means revenue is on the table. entitlement cuts, presumably, are on the table. >> it depends on what we mean by increased revenue. they have two courts declare principles that place here. number one, do not raise taxes. number two, cut spending. to you. out of revenue either by lowering rates or closing those loopholes? dagen: someone will behave more regardless. >> here is the problem for the republicans. they have lost control of this narrative. it is hard for them to break through. what they really need to be talking about is the spending side of this equation. look, the united states of america does not have a revenue problem. there is plenty of revenue even in this depressed economic state. the problem is spending. you never starve the beast. connell: how do you switch it back? >> this is up to john boehner. it is up to the house republicans. the tea party caucus which is talking about the tax reform and really cutting spending, they are the only people
really intense negotiations and both the president and john boehner in the house --. lori: david, i'm so sorry to interrupt you. we have breaking news. we'll get back to the conversation. we're getting started. the president we are hearing arriving in staten island, an area, hard, hard hit by superstorm sandy. he is is expected to address the press after he speaks with first-responders. you can see the crowd there. a lot of media members looking to grab an interview or comments from the president as he tours sandy's storm-ravaged staten island. all right. let's return to our conversation with mr. west self "the wall street journal.". when we hear from the mr. president we'll return to that. thanks for rolling, david. continue with your comments. you said this was the calm before the storm if you will. >> right. everybody is basically trying to jockey for position, making clear what their opening bid is and trying to make the public thing if this doesn't work out it was the other guy who was reasonable, other guy was unreasonable. lori: what is going to get this thing going? >> right. i t
, it is not going to make a difference. john boehner needs to stand his ground. he needs to say we can bring in more revenue, reform the tax code but won't raise taxes on anyone at this time. if the republican party doesn't stand for something, then they may as well call themselves another set of democrats. charles: the republican party was deemed the party of no for the last couple of years, and i think it hurt them at the polls. do they have to compromise somewhere? >> they will likely have to compromise but where they shouldn't compromise is raising taxes. that's going to affect economic output. even cbo talks about another drop in economic output. our gdp growth -- charles: if they don't raise taxes, how do they do it? what does boehner mean by revenue? >> you have to cut out subsidies. along with that tax reform is necessary so companies can make more money, small businesses. if you make it so they can be better companies, bigger companies, hire more people, even a a part timer, you can't to increase economic output. >> articulate why that's not the solution. explain to people why raising taxes
not go fir? >> well, i mean i think speaker boehner basically did that the day after the election. now obviously there wasn't fine detail on it but he laid out exactly what i'm talking about. laid out the path for ward and asked prident obama to join him on that path. he outlined exactly that path forward. melissa: would you agree to raising taxes on people that make over $250,000 a year or families that make that or do you think the number has to be higher? >> the devil is in the details. i would certainly prefer the number be much higher. i would like no tax increase period. goes without saying that i would the incomeumber to be much higher. the key is can't be just a rate increase which most folks think would be most negative for the economy. it has to in tax reform without a rate increase. in ft i would like all the rates to go down. that canbe done when you're broadening the base and getting rid of a great majority of credits and deductions and loopholes and special interest provision. >> that kind of sounded like a no to my actual question, you know, would you be willing to rai
, does it have to be a combination? >> well, i think speaker boehner has it right where he said we need to look at the whole tax code before we start increasing taxes. so i actually think that needs to be evaluated. so i'm not quite sure where the fiscal cliff is going to go. i'm assuming they are going to as they say kick the can down the road for another couple of months. hopefully they take that time period to lay out a foundation over what they are going to do in order for us to put our fiscal house in order. liz: there is citizen duffy and there is businessman ceo duffy. let's talk about the ceo duffy and how your customers and i want to remind our viewers that you have everyone from farmers who trade on the cme to small traders to billion dollars financial institutions. if we fell off a cliff, how would they be affected? >> well, i think they would be affected in my ways. -- in many ways. what i said earlier, for all these people to go about and do their business. farmers should be worried about the weather and the yield they are going to get in their crops not what's going on on
was an offer, a framework from the speaker john boehner who is calling for spending of revenue targets to be set this year and an overhaul of entitlement and tax reform to begin next year, 2013. what we got at the end of the talks today with a willingness to compromise. >> we're both going to have to give up some of the things we know are a problem. >> i will be continue to have revenue on the table, for my college to show the american people that we are serious about cutting spending and solving our fiscal dilemma. >> and so while the tone was positive, when you talk to aids, their position remains as they were this morning and the last couple of weeks. democrats want tax rates to increase still on families earning more than $250,000 per year and they want that to happen in the beginning of january when the scheduled rate increase is supposed to happen. republicans say any revenues must come from tax reform, a process next year, and must be accompanied by entitlement reform. a good tone coming out of the meeting was still remains far apart. david: you ever feel like screaming out, you
hurt. >> house speaker john boehner said the only way they will talk revenue is entitlement reform. republicans said what they want from a president is a serious proposal. >> when it comes the great economic challenges of the moment, saying that you want a balanced approach is not a plan. saying people need to pay their fair share isn't a plan. >> business executives come to the white house. a number of other ceos will be here all the way up to that have my meeting with congressional leaders, democrats and republicans coming to the white house to meet with the president on friday. david: thank you very much. chances are if you look something up online you have used wikipedia. coming up, wikipedia cofounder, jimmy wales joining liz claman at the cme global leadership conference. this is an exclusive you do not want to miss. moody's warning of big downgrades. find out which ones and why coming straight up. [ male announcer ] this is the age of knowing what you're made of. why let erectile dysfunction get in your way? talk to your doctor about viagra. ask if your heart is healthy enou
speaker boehner to republican groups to many tea partiers, message of get in line, what do you make of that? >> it may be true. it is hard to read too much into those statements and hard to come to firm conclusions right now to what they mean. those of us who owe our election to this movement. who understand that our constituents expect to us hold government spending, need to stay true to our principles and remember why we came here. neil: well, some -- i can understand maybe some disappointment at tea party senate candidates who seem to grab defeat from the jaws of what looked like victory. i can understand frustration on part of some republicans, but they forget the tea party that brought so many of you to power and house provided 80 something odd you know restless revolutionaries to two took over the place. i am wondering some tea parties are chafing about it? >> we have to remember, neil, that we had 3 u.s. senators elected this year, under the republican party, all three can be closely identified with the tea party movement. and we suffered from losses this year. but, personall
've got, as speaker boehner talked about, penalties that would go into place if it is not done. so the construct in place. a short term agreement to get it fully done, not kicking the can down the road. melissa: that can gets kicked all the time. senator, thanks for joining use appreciate it. >> thanks, melissa. melissa: not just d.c. that is copg with uncertainty surrounding the fiscal cliff. stocks suffered a brutal week despite the modest gains we saw today. jonathan hoenig is portfolio manager at capitalist pig.com. he said there is a lot more ready to come unless we get the fiscal house in order unless we do that fast >> catching up on your book. congratulations terrific new book. enjoying quite a book. melissa: you are a genius. you are a fantastic. my favorite guest of all time. what is that book you're reading there? i don't know if i saw the cover. oh. >> outstandin you will learn a lot. unfortunately not what the market wants to know which is about the fiscal cliff and future of our economy. melissa: yeah. >> i'm enjoying your new memoir. melissa: fantastic. i love you fo
this? no. we should point out that the negotiations are being very closely held. i mean this is boehner, paul ryan, cantor and pelosi, reid, key members there, this is like two groups, they are not briefing their conferences much. they are not going out there and telling people what they are doing. these are private negotiations. from what i understand, they are pretty active private negotiations. this is where we are right now. again, we should point out based on everything i know, no deal until after thanksgiving. and by the way, then it becomes key. this is really interesting. if you don't have a deal after thanksgiving, think about what m cos next -- think about what comes next, you have christmas holiday shopping, that's a huge time for retailers, if people think they are going to get taxed, a fiscal cliff scenario where all the tax rates go up, every single bracket goes up, right, are people going to spend money? that's a real question. liz: we have a guest coming up to talk exactly about that. we will ask him that question. >> yeah, and i think this clock really starts ticking af
? >> there are active negotiations. i don't think john boehner is sitting there, nancy pelosi is on the other end going no tax increases for the rich. i don't. lori: is creating another sequester. >> just wish it out a little bit? melissa: bigger, batter. -- badder. >> if they kick it down the road, to the tax rates stay in place? lori: that wasn't addressed. we need to exhale, lest the new congress come in and just -- >> the new congress is a lot like the old congress. lori: give policymakers a break because we're still so he did. >> the last downgrade did not matter much. this downgrade could, who knows, but i am saying we can n could o longer have a split rating the u.s. would be below aaa, and that hits the initial contract operate differently. world market might become a little bit more unglued. i will say this, based on that list what we heard late last week summerlike compromisers can make it do feel that bowles and simpson are in the middle of that. they're about compromise, it cutting a deal in getting through this. so we will see. melissa: charlie gasparino, thank you so much. >> can only giv
, house republicans are saying john boehner is saying we will do revenue from tax reform but must be accompanied by meaningful tax reform so two different messages. congress is back in session after a hiatus for the election season. mitch mcconnell meeting with the new republican senator in that body, democrats and republicans returning to capitol hill and on friday the big meeting, president obama, congressional leaders start talking fiscal cliff. cheryl: they need to get going. thank you, live at the white house. dennis: labor leaders love president obama but can he bring business leaders in? we meet with ceos tomorrow and trying to get republicans to compromise. republican senator and minority whip roger wicker of mississippi joins us from the capital. president obama says his reelection means we will tax the rich. democrats, republicans say they are old and the house meaning we won't raise taxes on any one. are you two side going to blow this and what let happen? >> i hope not. there is room for compromise. but i don't think labor leaders are going to get everything they want
cuts for social security, medicare and medicaid. john boehner says we will talk more tax revenue in an overall tax system but we won't discuss without entitlement reform. that is the key for republicans. they will do tax revenue but it has got to be part of an overhaul of the tax system and has to involve medicare, medicaid and social security. exactly what, folks. but white house don't want to. melissa: leaders in d.c. are scrambling to figure this out but our first guest says he really does fear we're going to hit the fiscal cliff. think of while e. coyote and the acme parachute. scott hodge is president of the tax foundation. you are well known for innovative ideas on tax policy. in the 1990s you campaign to include a child credit in capital gains tax cuts. what is your best idea this time around? >> the best idea right now is for everybody to take a deep breath and pumped into next year. all the tax cuts should be extended for one more year to give congress and the white house some extra time to get off of their political posturing and make a rational deal between them. this
. >> coming up tonight at 7:00 eastern, the president and speaker boehner act like they will steer clear of the cliff. and david petraeus comes clean on benghazi, sort of. what was really going on? former pacific police commander with his fascinating theory tonight 7:00 eastern. stuart: the management at hostess, the twinkie people says the baker's union forced the company into liquidation. the union workers blame bad management. tom, who killed the twinkie? tom: the union has a responsibility tot go and get as much as they can but not kill the golden goose, but the management whether it's general motors or whether it's hostess has a responsibility to not sign contracts and make promises they can't afford. i think it was a badly managed company. stuart: interesting. interesting. next case, black friday, one of wal-mart's biggest days of the year, now wal-mart is facing an employee uprising of sorts. a group that wants to unionize is trying to lead a protest against wal-mart on black friday, big day for retailers, day after thanksgiving. >> i think they had something to do with killing tw
Search Results 0 to 42 of about 43 (some duplicates have been removed)